|
|
| 23.06 20:07 |
Hot stocks: Exelon, Ford, News Corp.
Exelon Corp The largest U.S. operator of nuclear power plants
defeated a legal bid from NRG Energy Inc. that attempted to temporarily
block a takeover.
Ford Motor Co The automaker is expected to have
its request for billions in federal loans to develop new, fuel-saving
vehicles and technologies approved by the Department of Energy on
Tuesday, the Detroit News reported.
News Corp The MySpace
division plans to restructure its international operations, cutting 300
of its 450 overseas employees and closing at least four offices outside
the U.S.
Rambus Inc The memory-chip designer reduced its
sales forecast, saying it now expects to report second-quarter revenue
of $27.2M at most. It plans to offer $150M of convertible senior notes.
|
| 23.06 20:02 |
Dow -0.46 at 8338.55, Nasdaq +3.52 at 1769.71, S&P +3.70 at 896.74
Following
the announcement of its recent test results, Boston Scientific (BSX
9.57, +0.33) is among the most actively traded names in the S&P 500
this session. Citigroup (C 3.02, +0.02) is also among the most actively
traded names.
|
| 23.06 19:44 |
The S&P 500 stands up 0.36% at 896.02 after trading in a 888.89 to 898.62 range.
The S&P rose to a seven-month high of 956.16 on June 11, which put
the index up 5.9% year-to-date and up 43.3% from the 666.92 low seen
March 6. Traders got bearish Monday after the index closed below its
200 day moving average (then at 900.77 now 899.03). Up until Monday,
the S&P had closed above its 200 day since June 1. If downside
momentum again begins to mount, extended losses toward 875/880 (prior
support/resistance seen as larger pivot) are likely. A break sub 875
would be deemed very bearish, analysts say.
|
| 23.06 19:24 |
Dow -26.30 at 8312.71, Nasdaq -4.50 at 1761.69, S&P -0.20 at 892.39
The
stock market is paring recent gains as it drifts back to the unchanged
mark. Though the stock market has been moving back and forth in
positive and negative ground, trading in the S&P 500 remains
confined to a relatively narrow 10 point range.
Crude oil prices
have also fluctuated this session. Oil futures prices started the
session in higher ground, but reversed course only to make an
impressive rebound. Crude oil prices are currently up 1.9% to $68.80
per barrel. That has helped energy stocks hold a 0.5% gain.
|
| 23.06 19:02 |
Morgan Stanley on US data
Economists at Morgan Stanley say the stable trend in existing home
sales "will be significantly challenged going forward after the spike
in mortgage rates that began in late May."
They say Richmond Fed mfg index at 6 in June from 4 in May, is
"consistent with our preliminary forecast for a small further
improvement in the national ISM to 43.5 from 42.8."
They say "The FHFA house price index dipped 0.1% in April for a 7%
year/year drop. Prices for homes financed with conventional mortgages
appear to be holding up much better than the overall market, though
these numbers are still somewhat hard to believe.
|
| 23.06 18:39 |
Dow -14.67 at 8324.34, Nasdaq -1.82 at 1764.37, S&P +1.23 at 894.27 |
| 23.06 18:13 |
American focus:
The dollar dropped to a one-week low against the euro on speculation
the Federal Reserve will temper expectations for an interest-rate
increase this year in an attempt to lower borrowing costs. The
central bank will probably keep its benchmark rate close to zero and
continue its $300 billion program of Treasury purchases, according to a
Bloomberg News survey of 58 economists before tomorrow’s statement. The
pound fell versus the euro by the most in almost three weeks after Bank
of England Chief Economist Spencer Dale said a weaker currency was a
“key channel” to spur economic growth. “The market is worried that the Fed will put a damper on yields and that will take away support from the dollar,” said Henrik Gullberg, a currency strategist in London at Deutsche Bank AG, the world’s biggest foreign-exchange trader. “That’s the main reason the dollar looks vulnerable right now.” Futures
traders cut bets the Fed will raise interest rates by at least a
quarter-percentage point to 0.5 percent by December, lowering the odds
to 40 percent from 49 percent a week ago. “The dollar’s immediate problem is market concern about the Fed’s inflation-fighting credibility,” a team of Credit Suisse
currency strategists led by Ray Farris in London wrote in a note today,
referring to the Fed’s purchases of assets. “We see ways for the Fed to
salve some of these concerns, but we doubt the Fed will turn hawkish
enough to support the dollar,” CreditSuisse said. Manufacturing
activity in the central Atlantic region accelerated this month and U.S.
home resales climbed in May, according to data published today by the
Fed and National Association of Realtors. The Richmond Federal Reserve
Bank’s index of current activity climbed to six from four and existing
home sales advanced 2.4 percent to an annual rate of 4.77 million, less
than the 4.823 million economists had forecast.
|
| 23.06 17:53 |
Dow -21.84 at 8317.17, Nasdaq -3.89 at 1762.30, S&P -0.17 at 892.87
The
stock market is back at the unchanged mark as the overall picture stays
mixed. Currently, just four of the major sectors in the S&P 500 are
trading with gains. Telecom (+1.7%) remains the best performer. Financials
have made their way to a 1.5% gain as diversified bank stocks climb
2.3% and diversified financial services stocks climb 2.4%. Highly
regarded investment analyst Richard Bove argued in a Barron's article
that big banks could see dramatic increases in their net income. Gains
are also being had by materials stocks (+0.7%) and energy stocks
(+0.4%) as basic materials and commodities prices climb amid a weaker
dollar.
|
| 23.06 17:33 |
Barclays Capital rised US GDP estimates
Dean Maki, Chief US Economist at Barclays
Capital, has increased 2H 2009 GDP estimates. "We now look for stronger
growth in Q3 09 (2.5% from 2.0%) and Q4 09 (3.5% from 3.0%). The change
is mainly in response to congressional passage late last week of the
"cash for clunkers" bill, which gives consumers up to $4,500 to trade
in their old cars and light trucks" - which should boost spending and
auto production.
|
| 23.06 17:14 |
Dow -1.44 at 8337.57, Nasdaq -0.36 at 1765.83, S&P +1.57 at 894.61
The S&P 500 has made its way back into positive ground, but the Nasdaq and the Dow continue to trade with modest losses.
Health
care stocks are surrendering their gains as the broader market
recovers. Health care stocks are up just 0.1%, though Boston Scientific
(BSX 9.55, +0.31) continues to sport an impressive gain. Boston
Scientific announced positive results from a recent test for some of
its defibrillators.
|
| 23.06 17:03 |
Oil fell toward $67 a barrel on Tuesday,
as economic uncertainty hit
equity markets and added to expectation that oil demand could be slow
to revive significantly. However, oil's losses were limited by dollar
weakness. A lower dollar can strengthen commodities denominated in the
currency.
U.S. crude for August was down 50 cents at $67.54 U.S. crude
for July delivery expired on Monday, settling down $2.62 at $66.93 a
barrel. London Brent crude fell 34 cents to $66.64.
"The stock markets and global economic outlook pushed oil through key
support levels but they now seem to be finding support at around $67 on
WTI (U.S. crude) and $66 on front month Brent," said Christopher Bellew, a broker at Bache Commodities.
|
| 23.06 17:01 |
Commerzbank: Bank Is On Track To Meet 2011, 2012 Goals
- Pretax RoE Private Clients Ops To Top 30% By 2012
- CFO Repeats Won't Pay Dividend For 2009
- 2010 Div Payment Would Hinge On Profitability
- No All-Clear Yet On Financial Markets Crisis
- Crisis Repercussions To Last Next 3-6 Quarters
- CFO Says Bank Will Stick To Business Model
- CFO Sees No Cap Pressure For Use Of Bad Bank
- Backs View Of No Need For Additional Govt Aid
- Targets Eurohypo Pft,Earn Cost Of Cap Before Sale
|
| 23.06 16:38 |
Dow -22.28 at 8315.73, Nasdaq -6.48 at 1759.71, S&P -1.59 at 891.45
Existing
home sales for May came in at an annualized rate of 4.77
million units, which is slightly below the rate of 4.82 million units
that was widely forecast. May sales also mark the highest annualized
sales rate since October's rate of 4.94 million units. Given
that data for April was revised moderately lower to reflect an
annualized rate of 4.66 million units, sales for May reflect a
month-over-month increase of 2.4%, which is below the 3.0% increase
that was widely expected. Meanwhile, the House Price Index for April
decreased 0.1%. It was expected to decline 0.4%. The data come as the
most meaningful dose of news this session. Stocks are showing a
negative reaction to the data.
|
| 23.06 16:10 |
Commerzbank CFO: Markets Haven't Really Kicked Off Yet
- Corporate, Private Clients Business Still Subdued
- CFO Repeats Group Won't Achieve 2009 Net Profit
- Sees 09 Op Pft In Med-Sized Corp,Pvt Clients Ops
- CFO Expects No 2009 Op Profit In CEE Business
- No Forecast For Overall 2009 Write-Downs
- CFO Sees 09 Write-Downs Structured Pdts Below 08
|
| 23.06 15:50 |
Dow +3.25 at 8342.26, Nasdaq -1.62 at 1764.57, S&P +2.13 at 895.17 |
| 23.06 15:32 |
UK Tsy: Need Shared Approach On Tax Havens Sanctions Timing
- Sees Very Important Progress On Tax Transparency - Good Reception For Country-By-Country Tax Reporting - Must Bring Developing Countries Into Tax Info Process
|
| 23.06 15:17 |
Dow -8.77 at 8330.24, Nasdaq +3.45 at 1769.64, S&P +0.79 at 893.83
Despite
a positive tone to premarket trading, the major indices are moving
lower following a choppy start. The overall picture is now rather mixed.
|
| 23.06 15:09 |
Jun Richmond Fed mfg index 6 vs 4 in May. |
| 23.06 15:05 |
US May Existing Home Sales +2.4% To 4.77M Rate
- US May Median Existing Home Price -16.8% On Yr To $173,000 - Inventory Of Unsold US Homes At 9.6 Months Supply - US May Existing Home Sales Consensus 4.80M Rate
|
| 23.06 14:32 |
Before the bell:
Stocks were headed for a higher opening on Tuesday morning as
investors reacted to Moody's saying it will maintain the United States'
credit rating at triple-A. They also awaited the beginning of the
two-day meeting of the Federal Reserve.Futures measure current index
values against perceived future performance and offer an indication of
how markets may open when trading begins in New York. "We have a little
bit of a bounce, a very contained bounce, at the opening here," said Peter Cardillo, chief market economist for Avalon Partners.
"Yesterday's
decline was somewhat exaggerated." Stocks sank Monday, ending at
three-week lows, after the World Bank issued a bleak outlook on global
growth and a sell off in commodity prices raised doubts about the
prospects of an economic recovery. The World Bank also projected that
worldwide trade will fall 10% this year. Existing home sales for
May are due out after the start of trade from the Census Bureau. Sales
are expected to have risen to a 4.82 million unit annual rate. Tuesday
also brings a report on mass layoffs from the Labor Department. Mass
layoffs refers to the number of layoff announcements involving at least
50 workers. Meanwhile, investors are gearing up for a key meeting of
the Federal Reserve, which begins Wednesday. Tech bellwether Oracle reports earnings after the close. It's expected to have earned 44 cents per share after earnings 47 cents a year ago.
|
| 23.06 13:58 |
EUR/USD has risen 170 pips:
After rising 1.15% so far today from 1.3850 opening price to post
1.4008 as intra-week high ahead of the US session. Since the early
European morning, EUR/USD has risen 170 pips from 1.3830 to post
intra-week high in recovery path from rejection movement in 1.4012,
last Friday high. Currently the pair is trading around 1.3990/1.4000.
Resistance levels lie at 1.4000/15 (Jun 18 and 19 high) and 1.4040. On
the downside, downside reaction from current levels could find support
at 1.3900/20, and below here, intra-day low at 1.3825 (Jun 22 low) and
1.3785.
|
| 23.06 13:30 |
FTSE +18.00 (+0.42%) at 4,252, CAC +7.00 (+0.22%) at 3,130, Dax +41.00 (+0.88%) at 4,734 |
| 23.06 13:18 |
EU session review: Dollar Declines as Fed Seen Damping Rate-Increase Expectations
The data released 05:00 Japan Leading indicators composite index (April) final 76.2 - 76.5 05:00 Japan Coincident indicators composite index (April) final 86.0 - 85.8 06:45 France Consumer spending (May) -0.2% -0.3% 0.5 (0.7)% 06:45 France Consumer spending (May) Y/Y -1.6% -0.6% 0.6% 06:50 France Business confidence (June) 75 74 73 (72) 07:00 France PMI (June) flash 45.5 45.0 43.3 07:00 France PMI services (June) flash 47.5 48.5 48.3 07:30 Germany PMI (June) flash 40.5 40.9 39.6 07:30 Germany PMI services (June) flash 44.3 46.0 45.2 08:00 EU(16) PMI (June) flash 42.4 42.0 40.7 08:00 EU(16) PMI services (June) flash 44.5 45.6 44.8
The
dollar declined against the euro on speculation the Federal Reserve
will temper expectations for an interest-rate increase this year amid
signs the recovery will be weaker than economists projected. The
U.S. currency also dropped versus the yen as the Federal Open Market
Committee prepared to start a two-day rate- setting meeting today. A
report tomorrow may show U.S. durable- goods orders declined in May,
according to a survey. There’s a 40% chance the
Fed will raise interest rates by at least a quarter-percentage point to
0.5% by December, fed funds futures showed today. U.S. wealth
may take 15 years to rebound, Edmund Phelps, a professor at Columbia
University and winner of the 2006 Nobel Prize for economics, said in a
Bloomberg Television interview yesterday. The World Bank said yesterday
the global recession will be deeper than it earlier forecast.
EUR/USD
opened around $1.3835. Downside momentum gained pace into early Europe,
taking the rate down to retest overnight Asian lows. Move bottomed out
at $1.3828, with French names said to have been the main buyers. A move
above $1.3900 topped out at $1.3970.
GBP/USD opened at $1.6330. Rate eased to $1.6210
as market was tempted lower on reports of stops sub $1.6190. Cable
bounced from $1.6210 but recovery stalled ahead of $1.6280.
USD/JPY opened at Y95.18. Dollar-yen took out
Monday's lows, with slippage initially extending to the Y95.30 area and
then - to Y95.00 before the rate recovered to Y95.60.
At 14:00 GMT US Existing home sales for May is due to come. Analysts
predict sales rose 2.6% to 4.80 mln after 4.68 mln month earlier.
|
| 23.06 12:55 |
OPTIONS: Expiries of note for today's 14:00 GMT cut,
EUR/USD: $1.3800, $1.3750. Exotic; $1.3600
USD/JPY: Y95.75, Y95.00, Y94.85, Y96.80
AUS/USD: $0.7850/60
|
| 23.06 12:48 |
EUR/GBP weakens
EUR/GBP slowly pressing lower, as rate
corrects morning rally to stg0.8580. Rate currently trades around
stg0.8564. Support noted atstg0.8540, a break below to boost hopes for a deeper move back toward stg0.8500.
|
| 23.06 12:40 |
GBP/USD around $1.6300
GBP/USD holds around $1.6300 as
sterling begins to extend recovery, euro-sterling easing off extended
highs of stg0.8580 to stg0.8565. Cable resistance seen at $1.6325/35. A break above to open a move on toward $1.6350.
|
| 23.06 12:22 |
EUR/JPY looks optimistic
EUR/JPY bounces back from early European lows under Y131.50 now extending above Y132.60. Offers noted around the Y133.00 area (Asia high Y132.98), more at Y133.25/30 with stops above.
|
| 23.06 12:13 |
European focus: Yen gains on economic concerns, eyes on dollar debt
The yen rose broadly on Tuesday,
hitting a one-month high against the euro and a three-week high against
the dollar, benefiting from creeping doubts about the sustainability of
any economic recovery. Concerns about reserve diversification away from U.S. assets caused the dollar to turn lower against
the euro after Moody's said one risk to the U.S.' triple-A rating is if
the dollar is challenged as the main reserve currency. Investors
were also cautious ahead of a U.S. Federal Reserve policy decision on
Wednesday and this week's record $104 billion sale of U.S. debt. "People
are wary of buying dollars until the U.S. bond auctions are out of the
way," SEB's currency strategist Johan Javeus said.
|
| 23.06 11:43 |
AUS/USD gains
AUS/USD bounces back from early European lows
under $0.7800 extended into $0.7882. Rate triggered reported offers at
$0.7850/60.
|
| 23.06 11:27 |
EUR/USD still rallies
EUR/USD moves into the arera of reported offers between $1.3940/50, with traders mention stops on a break of $1.3960. Earlier reports placed next resistance/offers at $1.3970 ahead of $1.4000.
|
| 23.06 11:12 |
Techs on USD/JPY:
Resistance 3: Y97.20
Resistance 2: Y96.30
Resistance 1: Y95.50
Current price: Y95.33
Support 1: Y94.40
Support 2: Y93.80 Support 3: Y92.50
COMMENTS: Techs on dollar hasn't changed. Minor
support comes at Jun lows on Y94.40. Below - on Y93.80 (May 21-22 lows). A
strong level of support comes near Y92,50 (61,8% FIBO of Y87,00-Y101,40
growth). The nearest resistance is on Y95.50 (Jun 17-18 lows).
Above the upside target is around Y96.30 (a yesterday's high).
Further rise may extend to Y97.20 (Jun 19 high).
|
| 23.06 11:04 |
Techs on USD/CHF:
Resistance 3:Chf1.1030
Resistance 2:Chf1.0980
Resistance 1:Chf1.0880
Current price: Chf 1.0793
Support 1:Chf1.0760
Support 2:Chf1.0650
Support 3:Chf1.0580
СOMMENTS:
Dollar remains under pressure with support comes atr Chf1.0760 (Jun
17-19 lows). Further decline may extend to Chf1.0650 (Jun 11 lows).
Below market's focus will move to Jun 03 lows on Chf1.0680. Resistance
remains at channel line from Apr 22
(Chf1.0880). Above the target comes at Chf1.0980 (Jun highs) and
Chf1.1030 (38,2 % FIBO of Chf1.1730-Chf1.0590 falling).
|
| 23.06 10:45 |
Techs on GBP/USD:
Resistance 3:$1.6600
Resistance 2:$1.6500
Resistance 1:$1.6380
Current price: $1.6323
Support 1: $1.6200
Support 2: $1.6100
Support 3: $1.5920
COMMENTS:
Sterling fell in Europe, but currently tried to recover. Strong
resistance comes at $1.6380 (50%
Fibo of pound's decline from Friday). Further recover will extend to
Monday's highs on $1.6500. Break above opens the way to $1.6660
(8-months highs). Strong suport is at $1.6200. Below losses may widen
to $1.6100 and $1.5920.
|
| 23.06 10:32 |
Techs on EUR/USD:
Resistance 3:$1.4180
Resistance 2:$1.4000 Resistance 1:$1.3940
Current price: $1.3855
Support 1: $1.3830
Support 2: $1.3720
Support 3: $1.3670
COMMENTS:
Rate currently probes the uper bound of the triangle on the hourly
charts, coming at $1.3940. Break above will strengthen the bullish
momentum and open the way to $1.4000. Above gains may extend to $1.4180
(Jun 11 high). Support comes at recent lows on $1.3830. Below
correction may widen to $1.3720 (May 13 highs and May 21 lows), then -
to the lower bgound of the mentioned-above triangle at $1.3670.
|
| 23.06 10:15 |
GBP/USD tries to recover
GBP/USD snaps back from around $1.6210 to current $1.6268. Bids remain intact ahead of the figure with stops sub $1.6190.
|
| 23.06 10:01 |
EU stocks have volitile Tuesday
The FTSE-100 has been in and out of positive territory in early trade
Tuesday, currently down 7pts (-0.2%). Mining stocks are once again in
focus this morning after Anglo American (AAL) firmly rejected the
merger approach from rival Xstrata (XTA), with Anglo American now
underperforming, and with Xstrata holding firm. Oil stocks are also
outperforming slightly, despite the drop in crude prices overnight,
with BP (BP.) and BG Group (BG.) leading the sector. Elsewhere in
Europe, the CAC-40 isdown 15pts (-0.5%), and the Xetra-DAX is down 12pts (-0.3%).
|
| 23.06 09:49 |
ECB NOYER: Indicators since april show economic situation 'less bad'
- Can hope worst over for eurozone
- Disinflation fasrter than expected
- Can expect economic stabilization end-year, recovery 2010
- ECB must be ready to absorb liquidity as soon as needed
- Monetary policy must be eased without jeopardizing price stability
|
| 23.06 09:31 |
UK: BBA; May s/adj mortgage approvals 31,162 vs 29,018 in April |
| 23.06 09:27 |
GBP/USD slides
GBP/USD drops back from recovery highs at
$1.6330 as sterling sold off on the back of reported comments from BOE
Dale. Rate moves down to extend lows to $1.6220 after stops were
triggered through $1.6240. Cable currently trades back around $1.6241.
Bids remain inplace at $1.6220, more toward $1.6200 with further mention of stops placed on a break of $1.6190.
|
| 23.06 09:17 |
Asian session:
The yen rose to a one-month high
against the euro as Asian stocks slumped on concern the global
recession will be prolonged, spurring demand for the relative safety of
Japan’s currency. The yen strengthened against all 16 most-traded
currencies before a U.S. report tomorrow that economists say will show
durable-goods orders declined in May. Japan’s currency also gained for
a third day against the dollar after the World Bank yesterday forecast
the global recession will be deeper than it earlier projected. The yen typically
strengthens in times of financial turmoil as Japan’s trade surplus
makes the currency attractive as it means the nation does not have to
rely on overseas lenders. U.S. durable-goods orders fell
0.9 percent in May after a 1.9 percent increase in April, a separate
survey showed before the Commerce Department report tomorrow. The euro fell
for a second day against the yen on speculation European Central Bank
officials will today signal they may keep borrowing costs low to
counter the 16-nation region’s recession.
EUR/USD the pair could not overcome resistance in the field of a yesterday's low $1,3830 therefore raised in area $1,3900

GBP/USD begun session in the field of $1,6340 the pair decreased having reached a mark $1,6240
USD/JPY pair the beginning session by sharp decrease therefore the low slightly below mark Y95,00 established
It is the start of the two-day FOMC meeting today, although data starts
at 1145GMT with the weekly ICSC-Goldman Store Sales data, followed at
1255GMT by the weekly Redbook Average. US data sees a slew of releases
at 1400GMT with the FHFA Home Price Index, Existing Home Sales (NAR),
the Richmond Fed Manufacturing Index and BLS Mass Layoffs.
Existing home sales are expected to rise to a 4.85 million annual rate in May after rising in March.
|
| 23.06 09:01 |
European Monetary Union Purchasing Manager Index Manufacturing (Jun) 42,4 |
| 23.06 08:48 |
FOREX: Monday’s review
The yen and dollar advanced versus most of their major
counterparts as the World Bank said the global recession will be deeper
than it predicted in March, encouraging safety demand. The global
economy will contract 2.9% this year, the World Bank forecast in a
report, compared with a previous estimate of a 1.7% decline. The Australian dollar and Norway’s krone were
the biggest losers against the dollar and yen as prices of crude oil
and copper tumbled. Australia’s currency gained 16% versus the dollar
and yen in the past three months on speculation evidence the worst of
the recession is over will spur carry trades. The Japanese and U.S. currencies also
strengthened after Iran’s government said at least 17 people were
killed during protests over this month’s disputed election. The
greenback may reverse its advance and weaken on speculation the Fed
will craft its statement to keep interest rates down, some analysts
said. The euro stayed lower even after a gauge of German
business confidence rose for a third month in June, providing further
evidence that the recession is easing. The Ifo institute in Munich
said its business climate index, based on a survey of 7,000 executives,
increased to 85.9, from 84.3 in May, more than the median-estimate of
forecasts.
EUR/USD begun session in the field of
$1,3950 the pair shown low in area $1,3820. By the end of session the
rate returned a part of the lost positions
 GBP/USD losses of pound for yesterday's session have exceeded 150 point USD/JPY movement of pair has been limited Y95.50-Y96.30 European
data for Tuesday starts at 0610GMT with the German July GfK consumer
expectations data. France data at 0645GMT sees consumer spending for
May, followed by manufacturing sentiment data for June at 0650GMT. This
morning sees the flash manufacturing & services PMI releases
from Europe, which are forecast to rise slightly across the board. The
EMU data is due at 0757GMT. European speakers start at 0800GMT. It
is the start of the two-day FOMC meeting today, although data starts at
1145GMT with the weekly ICSC-Goldman Store Sales data, followed at
1255GMT by the weekly Redbook Average. US data sees a slew of releases
at 1400GMT with the FHFA Home Price Index, Existing Home Sales (NAR),
the Richmond Fed Manufacturing Index and BLS Mass Layoffs. Existing home sales are expected to rise to a 4.85 million annual rate in May after rising in March.
|
| 23.06 08:43 |
Moodys noting the US "triple A" rating is safe unless the govt is unable to bring its debt back on a downward trajectory or if the greenback is challenged as a reserve currency |
| 23.06 08:31 |
Germany Purchasing Manager Index Services (Jun) 40.5 |
| 23.06 08:15 |
FTSE -4.88 (-0.12%) at 4,229.17, CAC -14.64 (-0.47%) at 3,108.61, Dax -5.80 (-0.12%) at 4,687.60 |
| 23.06 08:01 |
OPTIONS: Expiries of note for today's 1400GMT cut
EUR/USD $1.3800, $1.3750, $1.3600 USD/JPY Y95.75, Y96.80 AUD/USD $0.7850/60
|
| 23.06 07:45 |
JAPAN STOCKS:
Japan's benchmark stock indices ended Tuesday's session sharply lower, although just off the day's worst levels, as the overnight slide on Wall Street hit investor confidence. The Nikkei 225 was lower by 276.66 points, or 2.82%, to stand at 9549.61. The broader-based TOPIX was 20.79 points lower at 901.69. Volume for the Nikkei constituents totalled a preliminary 1.609 bln shares, with 8 issues trading higher, 214 lower and 3 unchanged.
|
| 23.06 07:30 |
STOCKS: Monday’s review
Japanese stocks advanced, led by breweries and carmakers after
Credit Suisse Group AG raised its rating on the nation’s beverage
industry and a newspaper said Nissan Motor Co. will build a U.S.
factory to make electric cars. Sapporo Holdings Ltd. surged 18
percent after Credit Suisse lifted its rating to “outperform,” while
Kirin Holdings Co. rose 1.8 percent. Nissan, Japan’s No. 3 automaker, added 5.6 percent. Inpex
lost 2.4 percent to 749,000 yen, while closest domestic rival Japan
Petroleum Exploration Co. slipped 3 percent to 5,120 yen after oil
prices fell the most in two weeks. Kamigumi Co., a provider of
port-harbor transport services, jumped 5.2 percent to 805 yen, and
Mitsubishi Logistics Corp. added 5 percent to 1,049 yen. Fuji Electric Holdings Co. surged 12 percent, while Furukawa Electric Co. rallied 7.4 percent.
European
stocks fell the most in two months, while a gauge of volatility posted
the biggest surge since November, as the World Bank said the global
recession will be deeper this year than it predicted in March. Royal
Dutch Shell Plc, Europe’s largest oil producer, and StatoilHydro ASA
declined more than 4 percent as crude traded at $67 a barrel. Renault SA sank 7.9 percent after Standard & Poor’s cut its credit rating for the carmaker. Anglo American Plc rallied 4.6 percent after Xstrata Plc proposed a “merger of equals” with the mining company. In
Germany, the Ifo institute’s business climate index rose for a third
month in June after the measure reached a 26-year low in March. U.K.
home sellers lowered asking prices in June for the first time in five
months as banks scaled back lending, according to a report by Rightmove
Plc. CRH Plc, the world’s second-largest maker and distributor of
building materials, dropped 5.9 percent to 16.94 euros in Dublin
trading, while Spain’s Grupo Ferrovial SA declined 5.3 percent to 20.13
euros.
Stocks sank Monday, ending at three-week lows, as the
World Bank's weak outlook on global growth and a selloff in commodity
prices sent investors heading for the exits. Oil and gold prices
slumped and the dollar was mixed. Treasury prices rallied as investors
sought safety, sending the corresponding yields lower. The World
Bank cut its 2009 forecast, predicting that global growth will shrink
by 2.9% versus its earlier forecast for a 1.7% contraction. Global
trade is expected to plummet 9.7% this year, it said. Developing
countries have been especially hard, with the exception of booming
China and India. Stock declines were broad based, with 27 out of 30
Dow issues falling, led by Chevron (CVX, Fortune 500) and Exxon Mobil
(XOM, Fortune 500), which fell in tune with the price of oil. Other
big Dow losers included Boeing (BA, Fortune 500), IBM (IBM, Fortune
500), Hewlett-Packard (HPQ, Fortune 500), 3M (MMM, Fortune 500) and
United Technologies (UTX, Fortune 500).
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| 23.06 07:16 |
Techs on USD/JPY:
Resistance 3: Y97.20 Resistance 2: Y96.30 Resistance 1: Y95.50 Current price: Y95.05 Support 1: Y94.40 Support 2: Y93.80 Support 3: Y92.50 COMMENTS:
The yen continues to become stronger against dollar. The nearest
support is low of June on Y94.40. Below - on Y93.80 (May 21-22 lows). A
strong level of support is Y92,50 (61,8% FIBO of Y87,00-Y101,40
growth). The nearest resistance is on Y95.50 (area of June 17-18 lows).
Above the purpose of growth becomes Y96.30 (a yesterday's high).
Further is not excluded growth to Y97,20 (June 19 high).
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| 23.06 07:00 |
Techs on USD/CHF:
Resistance 3:Chf1.1030 Resistance 2:Chf1.0980 Resistance 1:Chf1.0880 Current price: Chf 1.0865 Support 1:Chf1.0830 Support 2:Chf1.0760 Support 3:Chf1.0650 СOMMENTS:
The pair remains in the field of a channel line from Apr 22
(Chf1.0880). Above the purpose of growth becomes Chf1.0980 (high of
June) and Chf1.1030 (38,2 % FIBO of Chf1,1730-Chf1,0590 falling). The
nearest support is located in the field of Chf1.0830 (MA(200) for Н1),
more important - on Chf1.0760 (area of low June 17-19). Further
decrease is probable to Chf1.0650 (low of June 11).
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| 23.06 06:47 |
Techs on GBP/USD:
Resistance 3:$1.6600 Resistance 2:$1.6500 Resistance 1:$1.6400 Current price: $1.6323 Support 1: $1.6260 Support 2: $1.6200 Support 3: $1.6100 COMMENTS:
The pair remains under pressure. The nearest support is located in the
field of a session low on $1.6260, further - $1.6200 (area of last
week's low). Below are possible losses up to $1.6100. The nearest
resistance is $1.6400 (MA(200) for Н1), which capture will open road to
yesterday's high on $1.6500. Overcoming of this mark will open road for
growth to $1,6660 (eight month high).
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| 23.06 06:32 |
Techs on EUR/USD:
Resistance 3:$1.4300 Resistance 2:$1.4180 Resistance 1:$1.4000 Current price: $1.3855 Support 1: $1.3830 Support 2: $1.3720 Support 3: $1.3610 COMMENTS:
The pair is consolidated in a narrow range. The nearest support there
is a yesterday's session low $1.3830. Below correction may reach
$1.3720 (area of May 13 high and May 21 low) and 50,0% FIBO of
$1,2880-$ 1,4330 growth on $1.3610. Resistance comes at yesterday’s
highs on $1.4000 with a break above will target $1.4180 (peak of June
11). Above resistance is around $1.4330 (six-month high).
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| 23.06 06:16 |
Daily History for Monday, June’21’2009
High Low Close
EUR/USD 1.3949 1.3825 1.3852
GBP/USD 1.6506 1.6318 1.6342
USD/JPY 96.30 97.50 95.93
USD/CHF 1.0896 1.0795 1.0864
EUR/JPY 134.27 132.45 132.91
EUR/GBP 0.8475 0.8403 0.8474
GBP/JPY 158.86 156.37 156.77
GBP/CHF 1.7928 1.7731 1.7755
Change % Change Last Nikkei +40.01 (+0.4%) 9826.27 Topix +3.51 (+0.4%) 922.48 FTSE -111.88 (-2.57%) 4234.05 DAX -146.06 (-3.02%) 4693.40 CAC -98.02 (-3.04%) 3123.25 Dow -200.72 (-2.35%) 8339.01 NASDAQ -61.28 (-3.35%) 1766.19 S&P -28.19 (-3.06%) 893.04 NYMEX Crude Oil -2.62 (-3.77%) $66.93
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| 23.06 06:01 |
Schedule for today, Tuesday, June’23’2009
05:00 Japan Leading Economic Index (Apr) 75.5 06:00 Germany Gfk Consumer Confidence Survey (Jul) 2.5 2.5 06:15 Switzerland Trade Balance (May) 1.86B 2.56B 07:30 Germany Purchasing Manager Index Services (Jun) 46.0 45.2 07:30 Germany Purchasing Manager Index Manufacturing (Jun) 40.9 39.6 08:00 European Monetary Union Purchasing Manager Index Manufacturing (Jun) 42.0 40.7 08:30 UK BBA Mortgage Approvals Low volatility expected 29.5K 27.7K 14:00 USA Richmond Fed Manufacturing Index (Jun) 6 4 14:00 USA Housing Price Index (MoM) (May) -0.3% -1.1% 14:00 USA Existing Home Sales (MoM) (May) 2.6% 2.9% 14:00 USA Existing Home Sales (May) 4.80M 4.68M 21:00 USA ABC/Washington Post Consumer Confidence (Jun 21) -49
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